British American Tobacco (ADR)
Sells cigarettes alongside Vuse vapour, glo heated tobacco, and Velo oral nicotine.
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Profile
Sells combustible cigarettes and smokeless nicotine products across the United States and international markets, anchored by brands including Newport, Camel, Vuse, glo, and Velo. Combustibles remain the economic base while management shifts investment toward vapour, heated tobacco, and oral nicotine under product-specific regulation.
Produces and sells combustible cigarettes, vapour devices, heated tobacco, modern oral nicotine, and traditional oral products. International cigarette brands include Dunhill, Lucky Strike, Pall Mall, and Rothmans, while the Reynolds American business supplies Newport, Camel, and Natural American Spirit in the United States.
Vuse, glo, and Velo anchor the smokeless portfolio across vapour, heated tobacco, and oral nicotine. Combustibles still provide most revenue, while product development and investment are being directed toward a predominantly smokeless mix.
Operations span the United States, Americas and Europe, and Asia Pacific, Middle East and Africa. Cigarette litigation and settlement payments remain structural obligations, while each new Vuse variant depends on its own FDA marketing authorization in the United States.
Company facts
Categories
Key statistics
Year to date −0.8% · Average volume (30d) 4.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Jul 21, 2026 | BTIG | Initiate | Buy | |
| Sep 8, 2025 | Argus Research | Upgrade | Hold | Buy |
| Jan 27, 2025 | UBS | Upgrade | Neutral | Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $2.21 | $2.25 | +1.8% | $16.42B | $16.43B | 0.0% | −1.69% |
| Feb 12, 2026Q4 FY25 | $2.50 | $2.55 | +2.0% | $17.83B | $18.43B | +3.4% | −1.83% |
| Jul 31, 2025Q2 FY25 | $2.24 | $2.79 | +24.6% | $16.24B | $16.45B | +1.3% | +1.25% |
| Feb 12, 2025Q4 FY24 | $2.44 | −$0.40 | −116.4% | $17.74B | $16.92B | −4.6% | −7.32% |
Financial highlights
| 12 quarters | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $18.74B | $16.70B | $18.31B | $16.34B | $18.33B | $16.68B | |
| Gross profit | $15.15B | $13.77B | $15.23B | $13.65B | $15.29B | $9.85B | |
| Operating income | −$29.35B | $5.76B | −$2.06B | $6.86B | $6.67B | $6.37B | |
| Net income | −$24.81B | $6.08B | −$1.93B | $6.11B | $4.40B | $4.35B | |
| Diluted EPS | −$11.14 | $2.71 | −$0.89 | $2.76 | $1.96 | $1.98 | |
| Gross margin | 80.9% | 82.5% | 83.2% | 83.6% | 83.4% | 59.1% | |
| Operating margin | -156.7% | 34.5% | -11.3% | 42.0% | 36.4% | 38.2% |
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $3.43B · Total debt $47.46B · Total assets $146.71B · Shareholders' equity $65.48B
Dividends
Raised for 3 straight years — most recently to $0.8349 from $0.834 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 10, 2026 | Jul 10 | Aug 19 | $0.8349 | raised from $0.834 |
| Mar 27, 2026 | Mar 27 | May 12 | $0.834 | raised from $0.8234 |
| Dec 30, 2025 | Dec 30 | Feb 9 | $0.8234 | raised from $0.7491 |
| Oct 3, 2025 | Oct 3 | Nov 13 | $0.7491 | cut from $0.7974 |
| Jun 27, 2025 | Jun 27 | Aug 6 | $0.7974 | cut from $0.8022 |
| Mar 28, 2025 | Mar 28 | May 12 | $0.8022 | raised from $0.7304 |
| Dec 20, 2024 | Dec 20 | Feb 6 | $0.7304 | cut from $0.7627 |
| Sep 27, 2024 | Sep 27 | Nov 6 | $0.7627 | raised from $0.7538 |
Ownership
Shares outstanding 2.16B · Float 2.15B · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Capital International Investors | 49.13M | 2.28% | 13F | Aug 12, 2026 |
| FMR LLC | 44.16M | 2.05% | 13F | Aug 13, 2026 |
| Capital Research Global Investors | 30.33M | 1.41% | 13F | Aug 12, 2026 |
| GQG Partners LLC | 24.57M | 1.14% | 13F | Aug 12, 2026 |
| BlackRock, Inc. | 20.16M | 0.93% | 13F | Aug 7, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Philip Morris International
Global cigarettes, IQOS heated tobacco and ZYN nicotine pouches
- Altria Group
U.S. cigarettes leader with oral nicotine and constrained e-vapor exposure
- Turning Point Brands
U.S. oral-nicotine and smokeless-tobacco challenger
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| British American Tobacco (ADR) | $56.13 | +0.02% | $121.07B | 13.9 | — | 3.5 | −0.1% |
| Philip Morris International | $191.85 | −0.01% | $299.08B | 27.6 | 22.0 | 7.0 | +10.4% |
| Altria Group | $68.70 | +0.09% | $114.63B | 14.5 | 11.9 | 5.2 | +1.3% |
| Turning Point Brands | $83.93 | +0.04% | $1.63B | 36.0 | 77.1 | 3.2 | +22.6% |
| Median | 27.6 | 22.0 | 5.2 | +10.4% |